HCL Technologies COVID-19 Status Update

HCL Technologies Ltd (HCL) has been monitoring the Covid-19 outbreak since late January
and had invoked its Business Continuity Plan and Risk Management Framework quite early
to minimize the impact on its employees and clients. The situation arising out of this
outbreak and its rapid spread across the world is unprecedented and is extremely dynamic.
The economic impact is visible with varying degrees of intensity across multiple countries
where we operate.
HCL has had a well-defined and structured pandemic policy in place which is resilient,
pragmatic and accords paramount importance to employee safety & health and client
commitments. We are actively engaged with our clients and have executed the client-
specific and HCL internal operations-centric Business Continuity Plan that ensures
continuity in delivering to our client and employee commitments. HCL is constantly
reviewing the situation at hand with utmost priority and fully complying with all
government advisories and recommendations. Given the extended nature of this situation,
we have looked at ensuring that we put in medium-term sustainable measures in place to ensure continuity of all our operations and client deliverables. We have been successful in
achieving this as of today. A large number of our clients have expressed their deep appreciation of our efforts and speed at which we have been able to achieve the current
state.
As of today, 76% of our India-based employees and 92% of our employees in other
geographies are enabled to work from home. In certain geographies, a limited set of our employees are working from our offices, wherever it is permissible by the government and
local authorities. It is noteworthy that we have not witnessed any outages or major
disruption in operations with this newer format of work from home delivery. We would like
to use this opportunity to thank our clients, industry bodies and government officials who have been very supportive in our efforts so far.
Likely Impact on business
While the impact on this quarter’s numbers is yet to be quantified, we don’t expect it to be significant. Our exposure to the more impacted verticals are not significant. Booking during
this quarter has largely been on track as significant part of closures happened in January.
Our business model is a healthy mix of recurring product revenues, managed services and
discretionary spend led professional services. From a vertical perspective, our exposure to verticals like Oil & Gas, Travel & Hospitality, High-End Retail is in single digits.
We recognize our investments in risk management systems and processes over the last
several years are helping us to minimize the short-term impact and to be adequately
prepared for the medium term, if it gets worse. We are also confident our business model
will help us to emerge stronger in the longer term as it has been built for resilience during
tough times.
Our wishes of safety and best of health to everyone out there and we hope and pray for the
earliest end to the crisis. Keep a safe distance.

شاهد أيضاً

عمار جميل

Future-Proofing Cyber Defense: BCFC Information Security Guru Urges Less Reliance on Human Analysis

Within the field of information security, artificial intelligence (AI) has emerged as a potent force …

اترك تعليقاً

لن يتم نشر عنوان بريدك الإلكتروني. الحقول الإلزامية مشار إليها بـ *